Making a deposit in a bank branch is a very responsible business. When investing your money, you must be confident in the reliability and conscientiousness of the financial institution, because in the post-crisis time the state of some of these organizations is very deplorable.
Instructions
Step 1
First of all, you must decide how much amount you plan to keep in the bank. Currency is also worth considering. Determine the term of the deposit. Write all these criteria on a piece of paper for clarity.
Step 2
Find out which banks are in your area. Write down your contact details (address, telephone). Go to the official website of the financial institution. Look at reviews about the bank, check the terms of deposits. Get information about the integrity of the bank from friends, acquaintances or using the forum on the Internet. Record all the data obtained on paper.
Step 3
Do not focus your attention on the promised high interest rates, because the bank's reliability does not depend on it. In addition, such lucrative offers may suggest risky and illegal transactions with money on the part of the bank.
Step 4
Pay attention to the standard of sufficiency of the bank's own circulating assets, that is, to the property that the institution uses in operations. You can get this information on the Internet or in financial statements.
Step 5
Be sure to clarify the composition of shareholders, this information should be available to clients of the financial institution. Find out the term of work and the history of the formation of a financial institution.
Step 6
If the bank takes a commission from you when opening a deposit, you should think about the reliability of such an organization, because you should pay money for the deposit, not you. Find out about the possibility of early withdrawal of your funds, because unforeseen circumstances may happen in life.
Step 7
After you have received the information and made sure that you are satisfied with the financial stability of the institution, pay attention to the terms of the deposit, that is, the interest rate, the term of the deposit, etc. When signing the contract, carefully read all the conditions, you can show the contract to an experienced lawyer.
